Naturbeads, a Bath, UK-based startup commercializing sustainable and biodegradable cellulose ingredients, raised £7.8M in Series A funding.
The round was led by Eos Advisory, alongside MITO Tech Ventures, CDP Venture Capital, PI-NB, and Paragon Capital Management.
The company intends to use the funds to further develop its technology that addresses worldwide microplastic pollution.
Founded in 2018 as a spinout from the University of Bath, Naturbeads is now scaling its innovative cellulose microsphere technology developed by the company’s co-founders, CTO Professor Davide Mattia, CEO Giovanna Laudisio, and the late Professor Janet Scott. Its cellulose microbeads are being tested in cosmetic and personal care products, paints and coating, adhesive, packaging and many other industrial and consumers applications to replace polluting plastic microbeads. Its beads are 100% biodegradable and show the same performance of plastic ones.
The company is set to build its first production plant in Puglia, Italy. It is also already collaborating with a number of global manufacturers to integrate its cellulose microsphere ingredients into various industrial applications, demonstrating that their microspheres break down naturally without compromising product performance, and expects to announce its first commercial milestones during 2025.
FinSMEs
14/11/2024